Common use of Year-End Adjustments Clause in Contracts

Year-End Adjustments. If Landlord shall have elected to charge Tenant its Proportionate Share of Landlord’s Insurance Costs and/or Real Property Taxes on an estimated basis in accordance with the provisions of Paragraph 3.2B(2) above, Landlord shall furnish to Tenant within three months following the end of the applicable calendar or fiscal year, as the case may be, a statement setting forth (i) the amount of Landlord’s Insurance Costs and/or Real Property Taxes paid or incurred during the just ended calendar or fiscal year, as appropriate, (ii) the amount of Landlord’s Insurance Costs and/or Real Property Taxes paid during the applicable Base Year, and (iii) Tenant’s Proportionate Share of Landlord’s Insurance Costs and/or Real Property taxes for the just ended fiscal or calendar year, as appropriate. If Tenant shall have paid more than its Proportionate Share for the previous year, Landlord shall, at its election, either (i) credit the amount of such overpayment toward the next ensuing payment or payments of Additional Rent that would otherwise be due or (ii) refund in cash to Tenant the amount of such overpayment. If such year-end statements shall show that Tenant did not pay its Proportionate Share in full, then Tenant shall pay to Landlord the amount of such underpayment, together with the accounting fee applicable thereto, within ten days from Landlord’s billing of same to Tenant. The provisions of this Paragraph shall survive the expiration or sooner termination of this Lease.

Year-End Adjustments. If Landlord shall have elected to charge Tenant its Proportionate Share of the increases in Landlord’s Insurance Costs and/or Real Property Taxes on an estimated basis in accordance with the provisions of Paragraph 3.2B(23.2A(2) above, Landlord shall furnish to Tenant within three months following the end of the applicable calendar or fiscal year, as the case may be, a statement setting forth (i) the amount of Landlord’s Insurance Costs and/or Real Property Taxes paid or incurred during the just ended calendar or fiscal year, as appropriate, (ii) the amount of Landlord’s Insurance Costs and/or Real Property Taxes paid or incurred during the applicable Base Year, and (iii) Tenant’s Proportionate Share of the increases, if any, in Landlord’s Insurance Costs and/or Real Property taxes Taxes for the just ended fiscal or calendar year, as appropriate. If Tenant shall have paid more than its Proportionate Share of such increases for the previous year, Landlord shall, at its election, either (i) credit the amount of such overpayment toward the next ensuing payment or payments of Additional Rent that would otherwise be due or (ii) refund in cash to Tenant the amount of such overpayment. If such year-end statements statement shall show that Tenant did not pay its Proportionate Share of any such increases in full, then Tenant shall pay to Landlord the amount of such underpayment, together with the accounting fee applicable thereto, within ten days from Landlord’s billing of same to Tenant. The provisions of this Paragraph shall survive the expiration or sooner termination of this Lease.

Year-End Adjustments. If Landlord shall have elected to charge Tenant its Proportionate Share of Landlord’s 's Insurance Costs and/or Real Property Taxes on an estimated basis in accordance with the provisions of Paragraph 3.2B(2) above, Landlord shall furnish to Tenant within three months following the end of the applicable calendar or fiscal year, as the case may be, a statement setting forth (i) the amount of Landlord’s 's Insurance Costs and/or Real Property Taxes paid or incurred during the just ended calendar or fiscal year, as appropriate, (ii) the amount of Landlord’s 's Insurance Costs and/or Real Property Taxes paid during the applicable Base Year, and (iii) Tenant’s 's Proportionate Share of Landlord’s 's Insurance Costs and/or Real Property taxes for the just ended fiscal or calendar year, as appropriate. If Tenant shall have paid more than its Proportionate Share for the previous year, Landlord shall, at its election, either (i) credit the amount of such overpayment toward the next ensuing payment or payments of Additional Rent that would otherwise be due or (ii) refund in cash to Tenant the amount of such overpayment. If such year-end statements shall show that Tenant did not pay its Proportionate Share in full, then Tenant shall pay to Landlord the amount of such underpayment, together with the accounting fee applicable thereto, within ten thirty (30) days from Landlord’s 's billing of same to Tenant. The provisions of this Paragraph shall survive the expiration or sooner termination of this Lease.